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Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Stock option plans
10.2.1
No new plans were set up in 2015 or 2014.
The following table provides details of the stock option plans
that were in progress at December 31, 2015 or expired during the year.
Number of
Number of
options Life of the Number of
options Exercise price
Grant date
(1)
granted
(2)
options
grantees Exercise period
(3)
outstanding
(4)
(in euros)
(2)
June 6, 2010 to
2008 Presence plan I
June 6, 2008 4,545,183 7 years
505 June 5, 2015
0
39.68
July 7, 2010 to
2008 Presence plan II
July 7, 2008
17,109 7 years
1 July 6, 2015
0
39.68
June 17, 2011 to
2009 Performance plan June 17, 2009 1,252,994 7 years
57 June 16, 2016
399,711
29.55
June 17, 2011 to
2009 Presence plan June 17, 2009 6,974,861 7 years
2571 June 16, 2016
5,064,396
29.55
July 17, 2012 to
2010 Performance plan July 16, 2010 1,439,017 7 years
56 July 16, 2017
471,416
29.91
July 17, 2012 to
2010 Presence plan
II
July 16, 2010 1,941,610 7 years
507 July 16, 2017
1,351,784
29.91
TOTAL
7,287,307
Date of the meeting of the Management Board (before July 28, 2008) or Board of Directors (after that date) when the stock option grants were decided.
(1)
Adjusted number of options and adjusted exercise price following the distribution of Dia shares in connection with the Maxidiscount demerger on July 5,
(2)
2011.
The options will vest only if the grantee is still employed by the Group at the start of the exercise period. Since 2006, the options vest as follows:
(3)
50% after two years;
●
25% after three years;
●
25% after four years.
●
Concerning the exercise date, specific rules apply in the event of the grantee’s death.
All of the options outstanding at December 31, 2015 were exercisable at that date.
(4)
All of the options are exercisable for existing Carrefour shares.
Performance plans, for which the above presence condition applies
●
as well as two conditions based on the Group’s financial
There are two types of plans:
performance, with 50% of the options vesting when each of these
Presence plans, for which the only condition is that grantees must
●
conditions are met:
remain employed by the Group between the grant date and the
Performance conditions for the 2009 Performance plan
●
starting date of the exercise period for each tranche of options (50%
concerned (i) sales growth for the period 2008 to 2010 and (ii)
of options vest after two years, 25% after three years and 25% after
the level of 2010 free cash flow,
four years);
Performance conditions for the 2010 Performance plan
●
concerned growth in (i) sales and (ii)
recurring operating income
over the period 2009 to 2011.
Movements in stock options
in 2015 were as follows:
Options outstanding at December 31, 2014
11,499,870
of which, exercisable options
11,499,870
Options granted in 2015
(1)
-
Options exercised in 2015
(633,245)
Options cancelled or that expired in 2015
(2)
(3,579,318)
Options outstanding at December 31, 2015
7,287,307
of which, exercisable options
7,287,307
The Remunerations Committee decided not to grant any stock options in 2015.
(1)
The 2008 plans expired in June
and July 2015 respectively. The 3,579,318 options that had not been exercised when the plans expired were canceled.
(2)
2015 REGISTRATION DOCUMENT
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